{"id":25738,"date":"2017-09-16T12:03:21","date_gmt":"2017-09-16T17:03:21","guid":{"rendered":"http:\/\/olduvai.ca\/?p=25738"},"modified":"2017-09-16T12:03:21","modified_gmt":"2017-09-16T17:03:21","slug":"suddenly-de-dollarization-is-a-thing","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=25738","title":{"rendered":"Suddenly, \u201cDe-Dollarization\u201d Is A Thing"},"content":{"rendered":"<header class=\"entry-header\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/dollarcollapse.com\/currency-war\/suddenly-de-dollarization-thing\/\">Suddenly, \u201cDe-Dollarization\u201d Is A Thing<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<p>For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar. China, Russia, and India have cut deals in which they agree to accept each others\u2019 currencies for bi-lateral trade while Europe, obviously, designed the euro to be a reserve asset and international medium of exchange.<\/p>\n<p>These were challenges to the dollar\u2019s dominance, but they weren\u2019t mortal threats.<\/p>\n<p>What\u2019s happening lately, however, is a lot more serious. It even has an ominous-sounding name: de-dollarization. Here\u2019s an excerpt from a much longer article by \u201cstrategic risk consultant\u201d F. William Engdahl:<\/p>\n<blockquote><p><strong><a href=\"https:\/\/www.globalresearch.ca\/gold-oil-and-de-dollarization-russia-and-chinas-extensive-gold-reserves-china-yuan-oil-market\/5608942\" target=\"_blank\" rel=\"noopener\">Gold, Oil and De-Dollarization? Russia and China\u2019s Extensive Gold Reserves, China Yuan Oil Market<\/a><\/strong><\/p>\n<p>(Global Research) \u2013 <em>China, increasingly backed by Russia\u2014the two great Eurasian nations\u2014are taking decisive steps to create a very viable alternative to the tyranny of the US dollar over world trade and finance. Wall Street and Washington are not amused, but they are powerless to stop it.<\/em>So long as Washington dirty tricks and Wall Street machinations were able to create a crisis such as they did in the Eurozone in 2010 through Greece, world trading surplus countries like China, Japan and then Russia, had no practical alternative but to buy more US Government debt\u2014Treasury securities\u2014with the bulk of their surplus trade dollars. Washington and Wall Street could print endless volumes of dollars backed by nothing more valuable than F-16s and Abrams tanks. China, Russia and other dollar bond holders in truth financed the US wars that were aimed at them, by buying US debt. Then they had few viable alternative options.<\/p>\n<p>Viable Alternative Emerges<br \/>\nNow, ironically, two of the foreign economies that allowed the dollar an artificial life extension beyond 1989\u2014Russia and China\u2014are carefully unveiling that most feared alternative, a viable, gold-backed international currency and potentially, several similar currencies that can displace the unjust hegemonic role of the dollar today.<\/p><\/blockquote>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Suddenly, \u201cDe-Dollarization\u201d Is A Thing For what seems like decades, other countries have been tiptoeing away from their dependence on the US dollar. China, Russia, and India have cut deals in which they agree to accept each others\u2019 currencies for bi-lateral trade while Europe, obviously, designed the euro to be a reserve asset and international [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[130,1025,213,7544,694,827,839],"class_list":["post-25738","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-china","tag-de-dollarization","tag-dollar-collapse","tag-john-rubino","tag-russia","tag-united-states","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25738"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25738\/revisions"}],"predecessor-version":[{"id":25739,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25738\/revisions\/25739"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}